Tuesday, March 22, 2011

The Future


We all have needs and wants, but when the wants outweigh the needs there is a problem. One needs to beware of good times because they can lull you into a sense of false security that the good times will always continue.

Gearhead was recently telling me about his neighbor that had a nice house and a good income and he was spending it as quickly as it was coming in on high ticket items. So his neighbor falls off his roof and becomes disabled. Suddenly he can no longer make his payments on his house. He ended up selling his home for much less than he owed on it.

Sometimes it takes something drastic to wake people up. I've been over-extended a couple of times in the past. It's scary as hell and fortunately we were able to climb out of debt each time without going under.

Have you ever asked yourself how long you can last if all of your sources of income came to an end one day? Considering how many people feel they will never be able to afford to retire it looks bleak for people that live from pay check to pay check.

Americans seem to be fiscal optimists. We always feel like things will get better or that we will one day have wind-fall. For some that is a crap shoot where there are more losers than winners.

10 Comments:

Blogger richpix said...

Hey, Guy, check out this this radio station I think you'll find it interesting.

Sorry, has nothing to do with financial crap shoots. ;-)

4:57 AM  
Anonymous Auntie said...

i bought lottery tickets for the first time in 20 years yesterday.

6:14 AM  
Blogger darev2005 said...

If you wake up one morning and find odd scrapbook pages and comic books littering your yard, it would be a wise assumption that we've lost our house and are now living in your chicken coop.

6:53 AM  
Blogger Donna said...

Strange as it sounds, we intend to be forced to sell out in five years or so. Then we'll move to senior housing and remember how much fun we had back when. You don't have to comment back on this; I know that from most peoples' points of view it's crazy.

9:14 AM  
Anonymous gearhead said...

I had the very good fortune to have a job in the 70s and 80s in which the management would hold monthly meetings that always ended with a thinly veiled threat of plant closure.
Wy was this good fortune?
I took those threats VERY SERIOUSLY and no way was I ever going to loose the farm.
Friends ask me once in a while, "What does it feel like to have everything payed off?"
Answer: There is no feeling.
Thats the point. No feeling of stress, no feeling of fear, no tossing and turning at night.
BOOOOORN free,,,as free as the wind bloooows, as free as the graaaas grows, born free to follow your heart.....

1:49 PM  
Blogger The Guy Who Writes This said...

Rich, Eeeh, it wasn't as good as Astoria's KMUN, which I never listen to anymore. I'm still hooked of KANM from Texas A&M. Thanks anyway.

Auntie,If you win you can buy me a back hoe.

Darev, my chickens could use a man in your profession.

Donna, every tractor Cliff sells will keep you in the house for another year. When you run out of tractors it's time to sell. Besides with no tractors left you won't need all that tractor storage.

Gearhead, I disagree, being out of debt is like being out of school or being retired where you wake up and say, "I don't have to do that any more." And then you go back to bed.

5:31 AM  
Blogger weese said...

People are careless now. They make tons of money and squander it on crap. Fancy cars, ginourmous TV's, buying 400 dollar phones when you can get one for free.
sheesh.
If most people lived modestly and within their means (buy only what you can actually pay for) even poorer people would be much better off.

5:46 AM  
Anonymous Uncle Walt said...

I was reading some stories the other day about people who had paid off debt. $80k ... $100k ... big numbers like that. I was impressed until the story mentioned that their annual income was 2-3 times their debt. Big Frakkin Deal! I mean, good for them - but I don't think it's newsworthy for someone making $200k/year to pay off an $80k debt. That's just being responsible.

'Course, nowadays ... maybe being responsible IS newsworthy.

10:54 AM  
Anonymous gearhead said...

Guy said:
>>Gearhead, I disagree, being out of debt is like being out of school or being retired where you wake up and say, "I don't have to do that any more." And then you go back to bed.<<

Wrong. Once a workaholic, ALWAYS a workaholic. Until death do we part.

1:19 PM  
Blogger The Guy Who Writes This said...

Weese, a spell of unemployment will sober someone up quickly.

Walt, that is the good point to start saving as well.

Gearhead, I didn't mean relaxing ones standards, but the good feeling where you are no longer chained down to The Man.

5:27 AM  

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